Activist investor plans to nominate Bloomin’ Brands directors
February 4, 2020 - Jana Partners, a New York-based investment firm , said it will nominate at least two people to the board of directors of Tampa-based restaurant company Bloomin' Brands (Nasdaq: BLMN). In a filing with the U.S. Securities & Exchange Commission, Jana said it would nominate John Paul Gainor Jr., who is the former president and CEO of International Dairy Queen Inc., and Scott Ostfeld, a partner and co-portfolio manager at Jana. If there is a third opening on the board, Jana said it also would nominate Jennifer Fanjiang, Jana's chief legal counsel and chief compliance officer. The push for new directors comes a few months after Bloomin' said it would explore and evaluate strategic alternatives, including a possible sale of the company. Jana said it owns about 7.4 percent of the outstanding stock of Bloomin', the parent company of Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill and Fleming's Prime Steakhouse. In 2018, Jana successfully pushed for the addition to Wendy Beck to the Bloomin' board.